Posted 8:12 a.m. Friday, March 8, 2024
To be reimbursed from your 2023 Health Care Flexible Spending Account (FSA), you must have incurred eligible expenses by December 31, 2023. And those expenses must be submitted and substantiated by March 31, 2024.
An FSA allows you to be reimbursed for certain out-of-pocket expenses with tax-free dollars. Since these are spending accounts, the money should be spent. Eligible expenses include:
- Medical (post-deductible only if you were also in the HDHP and HSA)
- Dental
- Vision
- Dependent Day Care
How to Submit Eligible Expenses for Reimbursement
Submit your eligible expenses for reimbursement electronically by using the Optum mobile app or Optum website.
Remember to include the required Internal Revenue Service (IRS) supporting documentation with your submission. Optum will contact you directly for additional information, if necessary.
Carryover Reminders
Some of the unused funds in your Health Care FSA may be eligible to carry over from 2023 to 2024 based on the balance in your Health Care FSA after March 31, 2024. The carryover process will occur around April 15, 2024.
- Unused funds less than $50 will be forfeited if you did not re-enroll for the 2024 plan year.
- Unused funds greater than $50 and up to $610 will carry over from 2023 to 2024.
- Unused funds greater than $610 will be forfeited.
The IRS does not allow carryover for the Dependent Day Care FSA.
More Information
For questions about your claims, eligible expenses, or your payment card, contact Optum at (833) 881-8158.
For general information, review the Universities of Wisconsin Employee Benefits FSA web page.